The price of Ethereum is rising and this appears to be due to an order from BlackRock. This is the largest asset manager in the world and when they want something, it usually happens (you can decide for yourself whether that’s good or bad).
Ethereum and Bitcoin
BlackRock Advisors, a division of BlackRock, yesterday registered an iShares Ethereum Trust in the US state of Delaware. This isn’t the first time this year that BlackRock has influenced cryptocurrency prices.
Earlier this year, it was announced that BlackRock had filed for a spot Bitcoin ETF with the US Securities and Exchange Commission (SEC). Just a week earlier, it was announced that BlackRock had registered its iShare Bitcoin Trust.
Does this mean an ETF for Ethereum?
Does this mean that BlackRock might also want to launch a spot ETF on Ethereum? This is a subject that can be subject to much speculation.
The royal decree would not only strengthen BlackRock’s position in the sector, but also underline the asset manager’s belief in the long-term potential and impact of digital assets.
Despite the current stance of the SEC, which has yet to approve the country’s first Bitcoin ETF offering, BlackRock remains consistently optimistic about the asset’s potential.
Possible SEC approval
Many expect a change in the SEC’s position and approval is expected later this year. Some analysts believe there is a 99% chance that an ETF will be approved before January 10, 2024.
Since the beginning of the year, the price of Ethereum has increased by 70%. That was good because he had a very bad 2022. If BlackRock manages to launch some Ethereum-based products, chances are ???? ???? ????
Source: BtcDirect
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
